Should I Continue To Repair My Car Or Should I Sell It?

If your car has spent recently more time in the shop than in your garage or driveway and it is now broken down, again and you are facing an expensive auto repair. Is it worth it throwing your cash in the hope that the car will be fixed or do you sell it?  Some vehicles that are worth repairing and keeping for example a diesel truck, if cared for, these can last into the 300,000 mile range.  There are other vehicles that you should sell. suggests guidelines to help you make the best choice.

Costs of Wear and Tear

Despite how good you take care of your work, there will always be some repairs. High-priced repairs are sometimes unavoidable due to various circumstances like extended wear and tear. Metal on rotors wear too thin or warp, rubber belts and horses dry or sometimes the electrical parts stop working. There will always be a need for a replacement for wear and tear items such as axle boots, brake rotors and belts.

On many vehicles, the timing belt needs a replacement at around 100,000 miles. At this point, most dealership service advisers recommend replacing drive belts and the water point. The cost of timing belt package can amount above $600. This kind of repairs can surface to over 90,000 miles.

Purchasing a new vehicle may not be suitable for you, especially if your budget is tight. Here are other reasons why repair of the car is better than buying a new car.

It is cheaper to repair a vehicle than to purchase one.

Registration and insurance fees will be higher when purchasing a new car

Sometimes a vehicle with excess damage can cost between $2000 and $ 7000. The value is incomparable to buying a new car. Thus the amount can only be worth buying an old car, which can have issues too.

At what point should you buy a new vehicle?

Consistent breakdown of the old vehicle can be annoying. Buying a new car will guarantee you at least three years of no repairs, yet higher expenses.

You know vehicle better than anyone else. But a trusted mechanic is a valuable resource.  They can estimate the cost of repairs and how many miles these repairs should last.  You should compare these two numbers.   A $2000 repair that will last two more years ( $84/month) vs a new car payment of $600 per month gives you a different perspective.

Or your mechanic might tell you that your car has filled its useful life and it is time for you to let it go.  Their advice can save you from continuing to pour money into a car that isn’t going to serve you well.